LG Electronics says second-quarter profit likely rose 16.1 percent, misses estimates

SEOUL (Reuters) - South Korea's LG Electronics Inc on Friday said second-quarter operating profit likely rose 16.1 percent from the same period a year earlier, falling short of market expectations.

Analysts said higher marketing expenses for new products weighed on profit.

LG, in a regulatory filing, estimated April-June profit at 771 billion won ($691.79 million), compared with an 821 billion won average of 10 analyst estimates in a Thomson Reuters survey.

Revenue likely rose 3.2 percent to 15 trillion won from 14.6 trillion won from a year earlier.

The firm did not elaborate on its performance and will disclose detailed earnings in late July.

 

($1 = 1,114.5000 won)

(Reporting by Heekyong YangEditing by Christopher Cushing)